North Carolina Faces Job Loss as Manufacturing Plateaus

Why It Matters:

The decline in manufacturing jobs in North Carolina highlights the need to understand the evolving landscape of the industry and its impact on the economy.

The Details:

• According to a recent government employment report, North Carolina lost 2,100 manufacturing jobs in October.

• This decline in manufacturing jobs contributed to a total job loss of 7,700 for the state during the same period.

• However, a surge in new private manufacturing construction has been observed in the country, particularly in the computer electronic and electrical subsector.

• Manufacturing construction investment has risen from around $80 billion to $200 billion over the past couple of years.

• The computer electronic and electrical subsector of manufacturing construction alone has seen an increase from less than $20 billion to around $100 billion.

• This surge in manufacturing construction is driven by developments in electric vehicle (EV) technology and data centers.

• Economic development announcements in North and South Carolina, including companies like VinFast and Toyota, have contributed to this growth.

Conclusion:

The loss of manufacturing jobs in North Carolina underscores the need to adapt to the changing landscape of the industry, particularly in areas such as EV technology and data centers. Understanding these shifts is crucial for economic growth and development in the state.